PROPERTY TAX RELIEF MAY BE ON ITS WAY

8 years ago938 Views

If you are interested in buying a home in Palm Beach Gardens,
West Palm Beach, Juno Beach, North Palm Beach, Jupiter or
throughout Palm Beach County, you are likely watching with
anticipation as lawmakers convene in Tallahassee to work on
property tax relief for all Floridians.

The legislature will be in special session for the next 11 days
solely to work on property tax relief. Several proposals have
been discussed and written about. The most prominent of these
would cut taxes an average of 7 percent, though it is expected to
be closer to 9 percent in Palm Beach County, and would change the
Save Our Homes provision that allows homesteaders a $25,000
exemption on property value and caps their tax increases at 3
percent a year.

Many of our clients, both buyers and sellers, are waiting to see
what will happen on the property tax issue before they move ahead
with their real estate transactions.

A reduction in property taxes may allow that buyer to finally
get the house he has wanted for his family. Or it could
permit the retiree to sell the big home he has had for many years
and buy a smaller, but more luxurious residence.

Today in most of Palm Beach County we tell our buyers that
property taxes on their new home will be from 2
percent -- 2.5 percent of the purchase price. Most
cringe when they hear that range of numbers. It
will help so many people if we can tell them property taxes will be
1 percent or 1.5 percent of the purchase price.

We believe this is one factor that will help set the real estate
market on the road to recovery.

The Weiss-Clawson Team
will continue writing about property taxes while the legislature is
in session to bring our readers information about this important
issue. We are an award winning team of Realtors, dedicated to
providing our clients with exceptional service. We are
knowledgeable about communities throughout Palm Beach County and
about issues related to homeownership and home buying.
Please contact
us if you are interested in buying or selling a home.